Developer Units definition
Examples of Developer Units in a sentence
The Developer Investors, in their sole and absolute discretion, shall have ten (10) days after receipt of such notice to exercise their rights pursuant to Sections 8.6 and 8.7 above or in the alternative exercise the option to have MacKenzie repurchase their Membership Interests pursuant for the Purchase Price of the Developer Units as set forth in Section 8.11(a) above.
After Closing, Developer shall timely pay all real and personal property taxes and municipal assessments that are due on the Developer Units and the Private Project or any portion thereof provided that any payments tendered to the City by tenants of any of the Developer’s Units for such taxes will be credited toward Developer’s obligation to pay such real and personal property taxes.
If the Majority in Interest of the Class B Members take such action then the Company and MacKenzie, jointly and severally, shall be required to repurchase the Developer Units from the Developer Investors for the Purchase Price of the Developer Units and the Class A Units from the Class A Members as set forth in Section 8.11(a) above.
Developer has either (a) determined that all lines, systems and facilities for storm water, sanitary sewer, gas, electricity, telephone, cable and all other utilities (collectively " Utility Lines ") are of sufficient size and capacity for the development of the Developer Units, or (b) committed to construct, improve, expand or otherwise install sufficient and adequate Utility Lines to serve the Developer Units at the sole cost and expense of Developer.
Developer shall use good faith commercially reasonable efforts to ensure that qualified sub-contractors and construction material suppliers based within the limits of the City have the opportunity to provide labor and materials for the construction of the Developer Units.
The parties anticipate that the Parking Units will be constructed, simultaneously with the Developer Units, by the General Contractor pursuant to the Condominium Units Construction Contract.
Afford access by the City to the Developer Units at all reasonable times for purposes of inspection with reasonable advance notice, subject to the rights of tenants under leases, and permit the City to inspect and make and take away copies of any and all of its records relative to this Agreement and / or the Project.
Such conveyance shall be free and clear of any encumbrances or impositions arising out of the acts or omissions of Developer or the development of the Developer Units (except for any such encumbrances consented to by the City in writing (“ Permitted Encumbrance ”).
Subject to the satisfaction of the conditions precedent set forth in Section 4.3 below, the City, concurrent with the Developer’s closing on its construction financing, will convey the Developer Units to Developer by executing and delivering a quit claim deed at Closing.
The City may provide any names of City residents seeking employment in the construction field to the Developer for consideration of their qualifications to participate in the development of the Developer Units.